Bain Capital

World raises $52.5M via WLD token sale

World, the online verification startup co-founded by Sam Altman and operated by Tools for Humanity, raised $52.5 million through a 12-month lockup sale of its crypto token WLD to strategic investors. The funds will be allocated to the World Foundation, an exempted limited guarantee foundation in the Cayman Islands established to steward World’s network. The sale’s lead buyer was Pantera Capital, with participation from Eightco Holdings, Bain Capital Crypto, Susquehanna Crypto, Selini Capital and others. World offers biometric-based verification (World ID) using Orb devices that scan users’ irises to generate cryptographic identifiers. The project began as Worldcoin, rebranded to World, has launched a new app and announced partnerships including Tinder and Ticketmaster, and recently conducted layoffs at Tools for Humanity.

Galeria Reviews 33 Stores; Closures Possible

Galeria, the German department store chain, is reviewing the profitability of 33 of its branches and may close some if viable solutions with landlords cannot be reached. The review follows a restructuring plan tied to a new credit line of up to €160 million provided by US investment firm Gordon Brothers. The funds are linked to a turnaround plan that foresees additional closures and will be used, among other things, to replace a loan from minority shareholder Bain Capital and to cover outstanding rent payments. Galeria—currently owned by US investor NRDC and a holding linked to entrepreneur Bernd Beetz—said all sites must become sustainably profitable and will negotiate rent and space adjustments across its network of locations.

Guitar Center's Turnaround Targets Serious Musicians

Guitar Center reports progress in a multi-year turnaround under CEO Gabe Dalporto, marking its ninth consecutive quarter of positive growth. The retailer said quarterly sales climbed 5.2% to $635 million, time spent in its roughly 300 stores rose 16% year-over-year, and store traffic increased for the first time in over a decade. The company is refocusing merchandising toward more advanced instruments, unlocking and remerchandising product displays, hosting in-store events and competitions, and developing a private-label guitar with community input via a subreddit. Guitar Center is also investing in AI tools for customer recommendations, employee practice simulations, and lesson scheduling. Financial moves include a sale-leaseback of headquarters raising $19.3 million and a debt repayment extension to 2029; the company remains in the process of reducing outstanding debt.